Suggest a scheme to keep money for six months

I am 24 years old and I can take moderately high risk. Currently, I have investments in PPF and some mutual fund schemes.
1. PPF: Rs 3,000 p.m
2. Aditya Birla Sun Life Tax Relief 96 - Regular (G): Rs 1,500 p.m
3. DSP BlackRock Tax Saver Fund - Direct: Rs 1,500 p.m
4. Mirae Asset Emerging Bluechip Fund - Regular: Rs 1,000
I am investing mainly for the purpose of saving taxes and to create wealth. My investment horizon is at least seven to 10 years and maybe more. Is my portfolio good enough? I plan to invest at least Rs 4,000 more in the future. Please recommend some more schemes, including one largecap scheme, for this. Also, recommend some schemes to keep money for around six months.
-- Shubham Sharma

Dinesh Rohira, Founder & CEO, 5nance.com, responds:

You have invested across different funds and asset classes. You have also rightly identified the category of funds which can offer dual benefit of saving taxes and creating wealth. Overall, the schemes in your portfolio have been consistently outperforming over a period of time.

However, the only change I would suggest is regarding DSPBR Tax Saver Fund, which has comparatively underperformed against its peers and even the benchmark in the recent period. You can instead invest in Axis Long Term Equity Fund (G). This scheme can outperform consistently. From a risk-reward perspective, this scheme offers a better alternative to DSPBR Tax Saver Fund.


Following are my recommendations:
1. For investing in a largecap fund, you can pick Kotak Select Focus Fund (G). You can invest Rs 2,500 per month in this scheme.
2. Considering your long-term horizon, you can also invest in a smallcap fund like HDFC Small Cap Fund (G). You can invest Rs 1,500 per month in this scheme.
3. For your short-term investment of six months, you can choose Aditya Birla Sun Life Cash Plus (G).